Author: Rigzone.com: Latest News Headlines

Macquarie strategists, including Walt Chancellor, revealed that they are forecasting that U.S. crude inventories will be up 3.3 million barrels for the week ending November 28.

Natural gas pipeline operator Targa Resources Corp. reached a deal to buy smaller rival Stakeholder Midstream.

Stonepeak and Energy Equation completed the acquisition of a 65 percent stake in JET from Phillips 66.

The EIA projected that the U.S. regular gasoline and U.S. on-highway diesel fuel retail price will drop both in 2025 and 2026 in its latest short term energy outlook.

The EIA projected that the U.S. regular gasoline and U.S. on-highway diesel fuel retail price will drop both in 2025 and 2026 in its latest short term energy outlook.

In a BMI report sent to Rigzone by the Fitch Group recently, analysts at BMI, a Fitch Solutions company, said China’s outlook for shale oil production is improving.

Czechia’s ResInvest acquired the Datteln 4 plant in North Rhine-Westphalia for an undisclosed price.

Argentina secured its first agreement for long-term LNG sales, a key step in its bid to become a global supplier of the fuel as drilling ramps up in its Vaca Muerta shale patch.

Adura, the 50-50 JV, ‘will be the UK North Sea’s largest independent producer’.

Chevron agreed to acquire 40 percent in Petroleum Prospecting License 2000 and PPL 2001 offshore Nigeria from TotalEnergies, which will remain operator.

Tullow Oil Plc appointed former Trafigura Group executive Roald Goethe as chairman.

Despite a bearish outlook, geopolitical risks from Russia to Venezuela helped lift WTI and Brent into positive territory.

In its latest short term energy outlook, the EIA lowered its U.S. total energy consumption forecast for 2025 and 2026 but still projected an increase in demand from this year to next year.

Harbour Energy Plc, one of the largest independent oil and gas firms in the UK, expects to cut another 100 jobs.

North America dropped 17 rigs week on week, according to Baker Hughes’ latest North America rotary rig count.

Eight OPEC+ countries met virtually on November 30 ‘to review global market conditions and outlook’, a statement posted on OPEC’s site highlighted.

The German multinationals signed a ‘framework agreement’ for the construction of six commercial ammonia plants toward the establishment of a scalable hydrogen import terminal in Wilhelmshaven.

The Caspian Pipeline Consortium, which handles most of Kazakhstan’s crude exports through Russia to the Black Sea, halted loading after one of its three moorings was damaged amid overnight Ukrainian attacks in the region.

ADNOC Gas signed a long-term deal worth $3.5-4.2 billion to supply natural gas to Emsteel.

TotalEnergies completed the sale of its 12.5 percent stake in Oil Mining Lease 118, which contains the producing Bonga field, to partners Shell and Eni for $510 million.

The plant processes output from the Quiluma and Maboqueiro shallow-water fields and sends the treated gas to the Angola LNG plant for export.

Ukrainian forces say they have once again attacked Rosneft PJSC’s Saratov oil refinery in Russia’s Volga region.

Prime Minister Mark Carney lost a cabinet minister over his oil pipeline agreement with Alberta.

Oil posted a fourth monthly loss.

Two ocean-going tankers that are heavily sanctioned for carrying Russian oil suffered near-simultaneous blasts off Turkey’s Black Sea coast.

An oil tanker from Russia’s shadow fleet reportedly hit a mine and was at risk of sinking north of Turkey’s coastline, a local port agent said.

Ukraine’s security service claimed strikes on two ocean-going tankers sanctioned for carrying Russian oil.

Brazilian oil major Petrobras announced a two percent decrease in its next five-year investment plan to $109 billion.

Pions, previously named eDrilling, announced that it was ‘taking another big step on the path toward Artificial Engineering Intelligence (AEI)’.

In its latest short term energy outlook, the U.S. Energy Information Administration increased its U.S. crude oil production forecast for 2025 and 2026.

Crude oil stocks, not including the SPR, stood at 426.9 million barrels on November 21, the EIA’s latest weekly petroleum status report showed.

U.S. liquefied natural gas exports are set to hit a record high this month.

Trading of futures and options on the Chicago Mercantile Exchange was halted by a data-center fault.

Trading of futures and options on the Chicago Mercantile Exchange stopped for several hours due to a data center fault.

Lotte Chemical and HD Hyundai Chemical agreed to combine part of their naphtha-cracking facilities.

Romania will set up a mechanism to place companies at risk of being hit by international sanctions under special oversight, such as the local unit of Russian state-owned Lukoil PJSC, a cabinet member said.

The world’s top cocoa producer pumped 44,000 barrels a day in 2024, according to the government.

‘Throughout history, from the Manhattan Project to the Apollo mission, our nation’s brightest minds and industries have answered the call when their nation needed them’, U.S. Energy Secretary Chris Wright said.

The IEA described U.S. data center electricity demand as the closest proxy available for the energy consumption of artificial intelligence.

‘This is not over. We will keep pressing for change’, OEUK Chief Executive David Whitehouse said.

The eye-popping amounts Big Tech is shelling out on artificial intelligence resembles shale’s golden age of spending before a price crash wiped out $2.6 trillion in equity, Carlyle Group Inc.’s Jeff Currie says.

Oil crept higher alongside global equities, bouncing off a one-month low.

BlackRock Inc. aims to rapidly grow its investments in Saudi Arabia and the wider Middle East in the next few years.

Aramco has chosen Citigroup Inc. to help arrange a potential multibillion-dollar stake sale in its oil export and storage terminals business, according to people familiar with the matter.

Venture Global Inc. signed an agreement with Tokyo Gas Co. to supply the utility with liquefied natural gas for 20 years.

‘It’s pretty compelling to see gas prices this low’, Patrick De Haan, head of petroleum analysis at GasBuddy, said.

Rystad Energy’s Head of Geopolitical Analysis, Jorge Leon, warned that ‘volatility is far from over’ for energy markets.

Macquarie strategists, including Walt Chancellor, revealed that they are forecasting that U.S. crude inventories will be up by 4.9 million barrels for the week ending November 21.

Venezuela is tapping Chevron Corp. for supplies of a key feedstock after a U.S. warship blocked the path of a Russian vessel near the country’s coast.

Crude settled sharply lower as signs of Ukraine-Russia peace progress raised expectations for continued Russian supply.

OPEC+ nations gathering this weekend are once again grappling with the thorny question of how much oil they’re physically able to pump.

Saudi Aramco is considering plans to raise billions of dollars by selling a range of assets, people familiar with the matter said.

‘Immediate-term volatility risks remain high into December expiration’, EBW Analytics Group Energy Analyst Eli Rubin said.

Ukraine attacked key Russian key energy infrastructure on the Black Sea for a third time this month.

Rigzone takes a look at the latest EIA projections.

‘Since the 1930s, U.S. firms have played a major role in supporting the company’s success,’ Aramco President and CEO Amin H. Nasser said.

Lukoil gasoline stations in the U.S. are experiencing major issues with card payments.

Markets expect choppy pre-holiday trading as peace discussions advance but remain uncertain.

Abu Dhabi National Oil Co. will maintain spending at $150 billion over the next five years.

Saudi Arabia’s AlKhorayef Group has started preparations for a potential listing of its oil and gas services subsidiary, according to people familiar with the matter.

North America added 12 rigs week on week, according to Baker Hughes’ latest North America rotary rig count.

‘Offshore oil and gas production does not happen overnight – it takes years of planning, investment, and hard work before barrels reach the market’, U.S. Secretary of the Interior Doug Burgum said.

‘Offshore oil and gas production does not happen overnight – it takes years of planning, investment, and hard work before barrels reach the market’, U.S. Secretary of the Interior Doug Burgum said.

The cost of hiring an oil supertanker on a benchmark route spiked to the highest in more than five years.

Industry body Offshore Energies UK’s 2025 awards ceremony took place in Aberdeen, Scotland, on Thursday night.

Russia’s flagship Urals crude is being offered to India’s refiners at the cheapest price in at least two years.

The turbines include a new offering that represents ‘the oil and gas industry’s highest reported mobile power density (MW per square foot) to date’.

Sasol Ltd. Chief Executive Officer Simon Baloyi said the South African company may spin off its international chemicals business as soon as 2028.

Oil fell as traders priced in a potential Ukraine-Russia peace plan that could boost supply.

Oil fell as traders priced in a potential Ukraine-Russia peace plan that could boost supply.

India’s Reliance Industries Ltd. said it would stop processing Russian oil at part of its giant Jamnagar oil refinery.

Russian energy giant Lukoil PJSC dissolved the supervisory board of its international business.

Russian energy giant Lukoil PJSC dissolved the supervisory board of its international business.

Russian energy giant Lukoil PJSC dissolved the supervisory board of its international business.

In a market that continues to be dominated by bearish supply sentiment, one of the few bullish drivers is the fragility of Russian supply, Standard Chartered Bank Energy Research Head Emily Ashford said.

Enterprise and ExxonMobil plan to raise Bahia’s capacity to transport Permian NGLs to Enterprise’s Mont Belvieu fractionation complex to one million bpd.

Crude oil prices have fallen sharply, Nadir Belbarka, an analyst at XMArabia, said in a statement sent to Rigzone on Friday.

Norway produced 336.76 million standard cubic meters a day of natural gas in October, its highest over the last six months, according to preliminary official monthly production figures.

The EIA’s latest weekly petroleum status report showed that crude oil stocks, not including the SPR, stood at 424.2 million barrels on November 14.

‘We maintain a firm belief in the long-term fundamentals of LNG shipping’.

Pouyanne rejected accusations the French energy firm has responsibilities in alleged killing of civilians four years ago at its liquefied natural gas project site in Mozambique.

Traders weighed potential sanction rollbacks that could add Russian supply.

Traders weighed potential sanction rollbacks that could add Russian supply.

Russian oil giant Rosneft PJSC plans to pay the lowest interim dividends since the pandemic in 2020.

Russian oil giant Rosneft PJSC plans to pay the lowest interim dividends since the pandemic in 2020.

Exxon Mobil Corp. lifted a force majeure on its Rovuma liquefied natural gas project in Mozambique as security concerns subside.

North America dropped two rigs week on week, according to Baker Hughes’ latest North America rotary rig count.

Golden Pass reached an agreement with Chiyoda and McDermott to amend the EPC terms for the second and third trains of the Texas project owned by QatarEnergy and ExxonMobil.

Phillips 66 won a three-year contract to deliver over 240,000 metric tons of sustainable aviation fuel from its Rodeo facility in California to German logistics giant DHL.

The U.S. Energy Information Administration increased its West Texas Intermediate (WTI) spot average price forecast for 2025 and 2026.

The North Sea Transition Authority announced a ‘giant leap forward for North Sea data sharing’ in a statement posted on its website recently.

So far this week, roughly a dozen vessels have been chartered to ship crude from countries including Saudi Arabia, Kuwait, Iraq and the United Arab Emirates and ferry it across the Arabian Sea, according to shipbroker reports.

The Australian company completed drilling for the fourth and final well in its one-MMscfd ‘Early Gas Sales’ project under the initial development plan for the Tanjung Enim coalbed methane production sharing contract in Indonesia.

Dozens of workers at the export terminal on the Norwegian island of Melkoya got ill from exposure to vented gas from tanks storing monoethylene glycol, a probe by the operator revealed.

Hints of stalled Russia-Ukraine diplomacy briefly softened market fears.

Rising electricity demand from data centers is raising the risk of blackouts across a wide swath of the US during extreme conditions this winter, according to the regulatory body overseeing grid stability.

The Vancouver-based company issued 16.2 million units for CAD 0.05 per unit in an oversubscribed non-brokered private placement, generating gross proceeds of CAD 810,000.

The Italian state-backed company entered into an agreement to buy a portfolio of already operational renewable energy projects totaling about 760 MW across France from Paris-based Neoen.

‘Operations in all oil fields in South Sudan have returned to a normal export’.

DNO will also divest its stake of around 7.6 percent in the Ekofisk Previously Produced Fields project, part of efforts to ‘high-grade’ its North Sea portfolio.

Orlen said authorities had issued a decision allowing the proposed Baltic East wind project, which has a planned capacity of about one GW, to join Poland’s first offshore wind auction, scheduled next month.

ExxonMobil, Chevron and ADNOC are among companies interested in Lukoil’s international assets, a sale hastened by US sanctions due to kick in next month.

Oil rose as tough EU rhetoric boosted expectations for tighter sanctions on Russia.

The cost of transporting LNG across the Atlantic Ocean surged to the highest in almost two years, as expanding exports from North America boosted demand for tankers.

Venture Global said it had applied for a construction permit before FERC and export authorization before DOE for a project to add over 30 million metric tons a year of capacity to the Louisiana facility.

TotalEnergies agreed to buy a 50 percent stake in a portfolio of European power assets for about EUR 5.1 billion, expanding in the sector even as some major oil and gas peers retreat.

The Tulsa, Oklahoma-based rig operator reported $57.36 million, or $0.58 per share, in net loss for the fiscal fourth quarter (July-September).

Turkey’s state energy company Turkiye Petrolleri plans to sell as much as $4 billion in Islamic debt as part of its push to expand oil and gas production, marking the firm’s first such international debt offering.

‘The Essington-1 well is the first discovery in the Otway since 2021 and is a promising start to ConocoPhillips’ exploration activities in the region’.

ADNOC’s gas processing and sales arm reported an eight percent year-on-year increase in net profit to $1.34 billion for the third quarter, driven by domestic demand.

Oil ticked lower as Russian port activity resumed despite wider geopolitical tensions.

Luis Canales Galvez was named chairman and president and the board of directors was overhauled.

New Era reported over $4.2 million in losses from operations for the third quarter as it winds down assets toward becoming an integrated power and digital infrastructure company.

The project aims to add 150,000 bpd of capacity to the Canada-U.S. liquids pipeline and up to 100,000 bpd to FSP.

‘The Republicans are putting in legislation that is very tough sanctioning, etcetera, on any country doing business with Russia’, the U.S. president said.

Ukrainian forces carried out an attack on a major Russian Black Sea port overnight, prompting a state of emergency, as Moscow launched a widespread air strike on Kyiv that killed at least six and damaged residential buildings.

Serbia is willing to pay a premium to regain control of oil refiner NIS as it seeks ways to unshackle the Russian-owned company from crippling US sanctions, Vucic said.

DEPA Commercial signed a letter of intent to supply Ukraine an unspecified volume of LNG from the U.S. for the 2025-26 winter.

Suriname’s state-owned Staatsolie declared the Sloanea-1 well in the offshore Block 52 a commercial gas discovery and said operator Petronas would now submit a development plan that includes an LNG facility.

ADNOC won conditional EU approval for its $13.9 billion takeover of Covestro after it dealt with EU concerns that its state subsidies could stifle competition.

Oil climbed as attacks on Russian sites and Iran’s tanker seizure added fresh risk premiums.

The Trump administration rescinded restrictions on oil drilling in Alaska’s mammoth state petroleum reserve, reversing a move by Biden that put an estimated 8.7 billion barrels of recoverable oil off limits.

TotalEnergies signed a deal to supply Google a total of 1.5 terawatt hours of certified green electricity for 15 years to support the tech giant’s data center operations in Ohio.

Repsol is considering a reverse merger of its upstream unit with potential partners including US energy producer APA, people with knowledge of the matter said, as it seeks ways to list the business in New York.

The Canadian company operating in Africa produced 35,600 boepd in Q3.

Ukrainian drones attacked oil infrastructure at Russia’s giant Black Sea port of Novorossiysk overnight, as Moscow’s forces launched a massive air strike on Kyiv that killed four and damaged several residential buildings.

Chinese gas equipment manufacturer Langrun signed a non-binding letter of intent to provide up to $46 million in financing for a CBM-to-LNG project by Australia’s Jade.

Zagato North yielded estimated gross recoverable resources of up to three million barrels of oil equivalent.

Oil ticked higher as traders weighed a looming record surplus against new Russia-focused sanctions.

South Sudan is asking crude producers for a total pre-payment of $2.5 billion.

‘This contract is more than a migration – it’s a digital transformation of decades of exploration intelligence’, Tape Ark Founder and CEO Guy Holmes said.

‘Oil prices in 2026 are likely to feel more pressure than LNG prices,’ Chevron Corp. Chief Executive Officer Mike Wirth said in an interview with Bloomberg TV.

The Buffett-backed oil producer reported $649 million or 64 cents per share in net income adjusted for nonrecurring items for the third quarter.

The French power and gas utility bagged a nine-year contract to supply renewable electricity to the pharmaceutical company until 2034.

In its latest short term energy outlook, the EIA increased its Brent price forecast for 2025 and 2026 but still projected that the commodity will drop next year compared to 2025.

Macquarie strategists, including Walt Chancellor, revealed that they are forecasting that U.S. crude inventories will be up by 6.0 million barrels for the week ending November 7.

TotalEnergies SE is considering selling some renewable energy assets in Asia to help to reduce debt, people familiar with the matter said.

That enlarged capacity is five times the output from just over half of the number of towers of the original facility, whose 26 turbines have been replaced with 14 more powerful models.

Equinor completed the transfer of its 40 percent operating stake in the producing Peregrino field offshore Brazil to Prio for $2.33 billion.

Oil Plunges Over 4% as OPEC Concedes Supply Surplus

Chevron Corp. chose West Texas as the site of its first project to provide natural gas-fired power to a data center.

The U.S. LNG producer announced multiple long-term contracts to supply three Greek, Japanese and Spanish companies.

Eli Rubin, an energy analyst at EBW Analytics Group, warned that natural gas is ‘nearing [the] price-inelastic portion of [the] curve’.

Gulf Energy Ltd, a Nairobi-based oil and gas trader that bought Tullow Oil Plc’s crude discoveries in Kenya, plans to start production next year, according to a top official.

The Railroad Commission of Texas revealed its latest preliminary crude oil and natural gas production figures.

Energy is the foundation of every digital addition, Antonio Coutinho, the CEO of EDP Innovation, said in a presentation at the Web Summit event in Lisbon, Portugal, on Tuesday, which was attended by Rigzone.

The project in Pengerang, Johor, will have a processing capacity of 650,000 metric tons per annum and produce SAF, HVO and bio-naphtha.

The International Energy Agency further tempered its stance on an imminent peak in oil demand, reinstating a scenario in which global consumption keeps growing to the middle of the century.

Modec is combining its wholly owned companies MODEC America and SOFEC to create an integrated mooring solutions business.

TotalEnergies, QatarEnergy and Petronas signed a production sharing contract for Block S4 in Guyana’s shallow waters with the French company as operator.

Oil rose for a third day as strong fuel premiums and Russian supply concerns supported prices.

The US urged NATO allies to stop buying Russian energy to help end the war in Ukraine, adding pressure on member countries such as Turkey even as they cut back their purchases.

The U.S. Department of Energy announced $625 million in funding to renew its five National Quantum Information Science Research Centers.

TotalEnergies won a 10-year contract to supply Data4 data centers in Spain with a total of 610 GWh of renewable electricity starting 2026.

Ukraine claimed new strikes on two Russian refineries as military authorities in Kyiv press ahead with attacks on Moscow’s oil-processing industry to curtail its energy revenues.

Petronas received regulatory approval for a permit to evaluate the potential of the Duyong field offshore Peninsular Malaysia for the storage of captured CO2 emissions.

Uniper reported EUR 44.83 billion in sales for the first nine months of 2025, down from EUR 48.26 billion for January-September 2024 partly due to a portfolio decrease from asset sales.

Chevron Corporation revealed a breakdown of its oil and gas production in the third quarter of this year in its latest results statement.

North America added six rigs week on week, according to Baker Hughes’ latest North America rotary rig count.

Naftogaz signed separate agreements with ORLEN and a new Greek company for the importation of LNG produced in the U.S. into Ukraine and other European countries.

Europe’s energy firms did much better than expected in the third quarter, as stronger refining margins offset the impact of subdued oil prices, though the outlook going into 2026 remains uncertain.

Oil prices rose as optimism over a potential U.S. government reopening boosted risk appetite across markets.

Lukoil PJSC declared force majeure on oil shipments from its giant West Qurna 2 field in Iraq, according to a person with knowledge of the matter.

Shell Plc canceled plans to build two wind farms off the coast of Scotland.

The December natural gas contract ‘pulled back to $4.268 intraday Friday before skyrocketing to test $4.509 this morning’, EBW Analytics Group Energy Analyst Eli Rubin said.

The Bureau of Ocean Energy Management announced that it has advanced the first two One Big Beautiful Bill Act (OBBBA) offshore lease sales.

‘In the Utica, the integration of the Encino assets is proceeding exceptionally well, with continued incremental efficiency gains’.

Global oil demand averaged 105.8 million barrels per day in October, J.P. Morgan analysts noted in a statement sent to Rigzone recently.

OMV and Masdar signed an agreement to form a JV for an under-construction 140-MW electrolyzer that will produce up to 23,000 metric tons per annum of hydrogen in Lower Austria.

President Trump granted Hungary an exemption from sanctions on purchases of Russian oil, providing a major win for Prime Minister Orban.

ExxonMobil agreed to acquire 60 percent in Block 2 in the Ionian Sea, paving the way for drilling in Greece’s ‘most mature concession’.

Suriname’s state-owned Staatsolie executed production sharing contracts for Blocks 9 and 10 with Malaysia’s Petronas and U.S. oil and gas giant Chevron as operators respectively.

The Delaware Basin-focused producer reported $656 million, or $1.04 per share, in adjusted net profit, topping expectations as production exceeded guidance.

Russia’s crude oil production edged up in October.

Oil prices rose slightly Friday but ended the week lower as traders balanced Russian sanctions against signs of global oversupply.

Commodity trader Gunvor Group has withdrawn its offer for the international assets of sanctioned Russian oil producer Lukoil PJSC.

The oil market appears ‘torn’, Standard Chartered Bank Energy Research Head Emily Ashford outlined in a report sent to Rigzone recently.

A tanker carrying crude from recently-sanctioned Rosneft PJSC has made a rare cargo transfer off Mumbai.

ConocoPhillips reported $2.01 billion in net income adjusted for nonrecurring items for the third quarter, down from $2.08 billion for the same three-month period last year on lower prices.

ScottishPower announced that it has launched a new scheme to help ex-servicemen and women move into long-term careers in the energy sector.

Pembina signed a 20-year agreement allowing the Malaysian state-owned company to use one MMtpa of liquefaction capacity at the under-construction Cedar LNG on Canada’s West Coast.

The UK ‘could add thousands of jobs, retain economic value, and lead the world in energy with the right policies, collaborative action, and a focus on an integrated energy workforce’, OEUK noted.

DNO and Aker BP signed agreements to recalibrate their exploration and production ownerships in the Norwegian continental shelf, including the Kjottkake discovery.

The Brazilian state oil producer is accelerating production from the world’s biggest deep-water field, helping the company raise dividends even as crude prices hover near a five-year low and the global market braces for glut.

Oil prices extended declines after Saudi Arabia slashed prices, signaling doubts about global demand and supply balance.

U.S. shale companies are forging ahead with their production plans.

The U.S. Energy Information Administration showed a rising U.S. on-highway diesel fuel price trend in its latest diesel fuel update.

Ukraine said it made a successful drone strike at Lukoil PJSC’s Volgograd refinery in Russia.

The gas will help fuel combined-cycle combustion turbine facilities being developed by Entergy Louisiana for its customers and projects like Meta’s new hyperscale data center in Richland Parish.

Crude oil stocks, not including the SPR, stood at 421.2 million barrels on October 31, the EIA’s latest weekly petroleum status report showed.

‘Today’s decision is the lowest-cost option to preserve the plant’s 400-MW generating capacity, enough to serve 90,000 homes, which is important to meeting the Valley’s growing power need in the early 2030s’.

Libya’s National Oil Corporation announced the discovery of oil in the Ghaddams basin.

Saudi Arabia lowered the price of its main oil grade to Asia for December to the lowest level in 11 months, days after OPEC+ signaled a cautious approach by pausing its supply increases for early next year.

‘The board’s confidence in our improved operational performance and solid financial foundation underpins its decision to raise the quarterly dividend’.

The contracts spans ‘strategic services, drilling, maintenance, logistics, digital solutions and major projects’.

Oil prices fell below $60 as mixed US inventory data reinforced oversupply concerns.

The Canadian government signaled it plans to eventually lift the controversial cap on emissions from the oil and gas sector.

Exxon Mobil Corporation revealed a breakdown of its oil and gas production in the third quarter of this year in its latest results statement.

The shale revolution has transformed energy production in the United States.

Ovintiv agreed to buy NuVista in a cash-and-stock transaction valuing the Canadian company at around $2.7 billion.

HSBC Senior Global Oil and Gas Analyst Kim Fustier highlighted that the OPEC+ group hit the ‘pause, not stop button’ at its latest meeting.

Macquarie strategists are forecasting that U.S. crude inventories will be up for the week ending October 31.

ADNOC signed a deal to potentially invest in YPF and Eni’s project to export up to 12 MMtpa of gas from the Vaca Muerta field onshore Argentina.

Russia and Turkey are in talks to keep up the volumes of gas supplies from Gazprom as they negotiate the renewal of two major pipeline supply deals, according to people familiar with the matter.

The Sydney-based company said flow testing at the Amistad-2 well in Cuba’s onshore Block 9 had failed to recover oil.

‘The deal marks ADNOC’s first long-term LNG sales agreement with Shell and the eighth long-term offtake agreement secured for the Ruwais LNG project’.

Oil prices fell below $61 as a strong dollar and oversupply worries ended a four-session rally.

Lukoil last week announced it had agreed to sell Gunvor its vast international network of oil wells, refineries and gas stations, as well as its trading book, without disclosing terms.

80 Mile Plc announced that an independent petroleum reserves and resources evaluation identified ’13 billion barrel potential’ at Jameson Land Basin in Greenland.

BP Plc’s profit exceeded expectations, with operational improvements and higher oil and gas production outweighing lower prices.

‘The combined company will have a premier portfolio of approximately 823,000 net acres, with the Permian position being the cornerstone,’ a joint statement said.

BP agreed to farm down its stakes in midstream pipelines and facilities in the Permian basin and Eagle Ford play to Sixth Street for $1.5 billion.

North America dropped 16 rigs week on week, according to Baker Hughes’ latest North America rotary rig count.

The Houston-based producer reported $9.51 million in company-attributed net loss for the third quarter, hit by a $73.53 million impairment of oil and gas properties.

Uniper completed the divestment of a district heating network serving over 14,400 customers in the Ruhr area to Steag Iqony as part of conditions for its bailout by Germany in late 2022.

Aramco posted a surprise increase in third-quarter profit as a production boost helped mitigate the impact of lower crude prices and helped the oil giant break a yearslong streak of falling earnings.

The new independent company will focus on natural gas-producing and development assets with an eye on the Asian LNG market.

Oil prices were little changed as OPEC+ announced a pause in output hikes next quarter due to expected weaker demand.

The global energy industry needs annual investment of $4 trillion as the boom in data centers and artificial intelligence increases demand, according to Sultan Al Jaber.

Ukraine claimed another strike at a key Rosneft PJSC refinery in southwestern Russia.

‘We are still in the exploration phase for Bumerangue, however, initial results and analysis are extremely encouraging’, said Gordon Birrell, BP’s executive vice president for production and operations.

The Emirati state-owned companies signed a cooperation agreement with Microsoft for AI deployment across ADNOC’s operations and the delivery of energy solutions to support the U.S. tech giant’s AI and data center growth.

The Canadian oil sands producer reported 462,000 gross barrels of oil equivalent per day in average production in the third quarter.

‘We expect to see a significant ramp-up in demand from the second half of 2026 onwards’, Saipem CEO and General Manager Alessandro Puliti said.

‘Like in the group’s recent meetings, this round also offered a surprise’, Rystad Energy’s Head of Geopolitical Analysis, Jorge Leon, said.

State-owned giants such as Sinopec and PetroChina canceled some Russian cargoes in the wake of US sanctions on Rosneft and Lukoil.

Banco do Brasil’s pension fund sold its stake in Neoenergia to Iberdrola for around $2.22 billion.

QatarEnergy awarded Samsung C&T the engineering, procurement and construction contract for a CCS project that will serve existing natural gas liquefaction facilities in Ras Laffan Industrial City.

Hungary has drafted legislation on steps to be taken in case of a fuel-supply emergency.

Russian oil producer Lukoil PJSC has agreed to sell its international assets to energy trader Gunvor Group.

Oil prices ended the week steady as traders anticipated another modest OPEC+ output increase.

U.S. President Donald Trump suggested that trade talks between the U.S. and Canada won’t restart.

U.S. President Donald Trump suggested that trade talks between the U.S. and Canada won’t restart.

Exxon Mobil Corp. and Chevron Corp. outperformed Wall Street expectations.

North America’s two dominant oil companies are carving divergent paths as the global crude market staggers toward what’s widely expected to be a hefty supply glut.

‘Global supply continues to outpace demand across key regions, exerting downward pressure on prices’, BMI analysts said.

Rigzone talks to Phil Flynn, a senior market analyst at the PRICE Futures Group, and Art Hogan, Chief Market Strategist at B. Riley Wealth.

‘Over the last 10 years the oil and gas industry has shed 252,000 jobs,’ the IEEFA said.

In his high-profile meeting with Chinese leader Xi Jinping on Thursday, Trump said ‘we didn’t really discuss the oil’.

Canadian oil producer MEG Energy Corp. postponed a shareholder vote on a C$7.6 billion ($5.4 billion) takeover proposal by Cenovus Energy Inc. until next week.

Oil prices were little changed as investors await clarity on Russian supply disruptions and US trade progress with China.

TotalEnergies SE said debt came down in the third quarter and will likely fall further by the end of the year.

Energy Secretary Chris Wright said the U.S. is prepared to sell more oil and natural gas to China if Beijing cuts back on purchases from Russia.

Crude oil stocks, not including the SPR, stood at 416.0 million barrels on October 24, the EIA’s latest weekly petroleum status report showed.

‘winning the AI race requires new and creative partnerships that will bring together the brightest minds and industries American technology and science has to offer’, U.S. Energy Secretary Chris Wright said.

Shell’s shares have risen 16 percent in London since the start of 2025, outperforming its closest peers.

Emily Ashford, Head of Energy Research at Standard Chartered Bank, offered a prediction for OPEC+’s next meeting, which is scheduled to be held on November 2.

Caterpillar Inc., the company synonymous with yellow bulldozers and mining trucks, is getting a boost from another type of machinery.

Caterpillar Inc., the company synonymous with yellow bulldozers and mining trucks, is getting a boost from another type of machinery.

Caterpillar Inc., the company synonymous with yellow bulldozers and mining trucks, is getting a boost from another type of machinery.

Gains were tempered by OPEC+ output increases and cautious Fed comments on rate cuts.

The American Petroleum Institute said it had ‘strengthen[ed]… offshore safety standards with new updates’.

An Islamist insurgency that froze TotalEnergies SE’s $24.5-billion gas project in Mozambique four years ago is intensifying.

‘Persistently low crude prices have kept many buyers on the bench’, EIR said.

Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be down for the week ending October 24.

Japan’s top utility gas provider Tokyo Gas Co. plans to boost its dividend by the fiscal year that ends March 2029.

The world’s biggest oil companies are expected to press ahead with plans to accelerate production growth when they report earnings this week.

The world’s biggest oil companies are expected to press ahead with plans to accelerate production growth when they report earnings this week.

Traders doubt the sanctions on Russia will meaningfully disrupt flows.

Eni and Egypt’s Bioenergy Association for Sustainable Development signed an agreement for a feasibility study on biogas production in the North African country using animal and agricultural waste.

‘Despite inflation and regulatory headwinds, confidence among CEOs is rising’, KPMG said.

XRG is the international arm of Abu Dhabi National Oil Co., backed by Abu Dhabi’s oil wealth.

Venezuela revoked energy deals with neighboring Trinidad and Tobago for its support of a U.S. military offensive in the Caribbean.

Rigzone talks to Art Hogan, Chief Market Strategist at B. Riley Wealth, and Phil Flynn, a senior market analyst at the PRICE Futures Group.

The offshore driller reported $798 million in revenue for Q3, down from $849 million for the prior three-month period as lower rig utilization offset lower contract drilling services costs.

North America added three rigs week on week, according to Baker Hughes’ latest North America rotary rig count.

The decision follows the ‘introduction of restrictive measures against the company and its subsidiaries by some states’, Russia’s second-largest oil producer said.

Israel’s Natural Gas Authority allocated 41.8 percent of the capacity of the planned Nitzana natural gas pipeline to Egypt to the Chevron-led Leviathan consortium.

QatarEnergy completed the purchase of a 40 percent stake in the North Rafah exploration block on Egypt’s side of the Mediterranean from Eni.

Baker Hughes signed an agreement with Aramco expanding its integrated underbalanced coiled tubing drilling operations across Saudi Arabia’s natural gas fields.

Progress in US and China trade talks helped limit losses as traders weighed the global supply outlook.

UK energy services provider Petrofac Ltd has applied to enter administration.

In its latest short term energy outlook, the EIA showed that world petroleum and other liquid fuels production outweighed consumption in the first, second, and third quarters of 2025.

Oil prices are expected to ‘moderate’ because of ample supply, according to the IEA.

‘WTI prices falling into the $50s created an opportunity for the Trump administration to step up economic measures against Russia’, J.P. Morgan analysts said.

Woodside awarded Tenaris a contract for the supply of casing and tubing for the Trion oilfield in Mexican waters.

The host of this year’s OEUK awards ceremony has been revealed.

Baker Hughes also signed a ‘preferred services agreement’ with Tamboran under which the Houston-based company will deliver oilfield services and efficiency improvements in Australia’s Beetaloo Basin.

Baker Hughes also signed a ‘preferred services agreement’ with Tamboran under which the Houston-based company will deliver oilfield services and efficiency improvements in Australia’s Beetaloo Basin.

Israel’s Natural Gas Authority allocated 41.8 percent of the capacity of the planned Nitzana natural gas pipeline to Egypt to the Chevron-led Leviathan consortium.

TotalEnergies also requested a 10-year extension to the development and production period of the project, and to amend how state oil company Empresa Nacional de Hidrocarbonetos will reimburse development costs.

Indonesian state-owned Pertamina signed a deal to acquire a 24.5 percent stake in the Bobara block off West Papua Province from Malaysian counterpart Petronas.

Israel’s Natural Gas Authority allocated 41.8 percent of the capacity of the planned Nitzana natural gas pipeline to Egypt to the Chevron-led Leviathan consortium.

Baker Hughes reported $678 million in net income adjusted for nonrecurring items.

Eni SpA said it’s raising share buybacks this year on an improved outlook for cash flows.

Oil prices steadied near recent highs as traders weighed new US sanctions on Russia against a growing supply glut.

India’s Reliance Industries Ltd. has bought millions of barrels of crude from the Middle East and United States after Washington sanctioned two Russian producers.

Crude oil stocks, not including the SPR, stood at 422.8 million barrels on October 17, the EIA’s latest weekly petroleum status report showed.

Chinese state-owned companies including Sinopec canceled some purchases of seaborne Russian crude.

The U.S. Energy Information Administration’s latest gasoline fuel update showed a declining trend for the U.S. regular gasoline price.

‘Sentiment is souring’, BMI analysts warned.

Petrofac said it was ending its ‘advanced stage’ financial restructuring after TenneT dropped the British energy engineering company from multiple projects.

The early-stage Australian gas E&P company launched an underwritten public offering of about 2.32 million common shares, under which Baker Hughes expressed interest to subscribe for up to $10 million.

The German chancellor said he’s optimistic that the U.S. will exempt Rosneft’s German unit from Washington’s latest sanctions against Russia.

‘The trend of improvement in operational, economic and financial performance that started in 2022 continues in the third quarter of 2025’.

Oil surged over 5% after U.S. sanctions on Russia’s top oil firms sparked fears of global supply disruptions.

Brazil sold five of the seven blocks offered in an oil auction on Wednesday to majors including Petrobras and Equinor ASA.

China is pushing ahead with imports of U.S.-sanctioned Russian liquefied natural gas.

‘OEUK is to bring together key voices for a public debate on the UK’s energy future’, the industry body said.